Every sector is different, but many SMEs have been hit hard during the pandemic with cash flow under particular strain. In this difficult situation what can brokers do to support their SME customers whilst creating their own growth opportunities too?

Effective use of credit is one answer to help improve cash flow. Insurance Premium Finance (IPF) is one popular option* providing SMEs with access to valuable insurance cover at the right level, at the right time and in an affordable manner. IPF takes away the need to pay for cover in one large lump sum, allowing businesses who qualify, to spread the cost of annual insurance premiums over convenient monthly payments.

Even where cash flow isn’t currently an issue, many firms are looking to spread costs where they can, allowing the business to be in a stronger cash position when many of the government’s ‘Covid-19’ support schemes come to an end.

Premium Credit proudly supports customers and partners by providing award winning premium finance payment solutions for SMEs. Many years of significant, tech-based investment has enabled us to maintain an uninterrupted service, even during the pandemic.

As the vaccine rolls out further and normality returns, we continue to work at pace to provide relevant, effective, compliant and tech-led insurance payment solutions for SMEs, corporates and individuals too.

* Premium Credit data reveals its premium finance net advances for commercial insurance increased by 11% in 2020 compared with the previous year